EGC, founded in 2021, specializes in decarbonizing heating systems in buildings by planning, financing, and operating central heating units and electricity supply networks. The company currently manages approximately 2 million square meters of real estate across over 100 clients and operates around 800 central heating units. Under the terms of the deal, EGC's founding family and existing shareholders will retain a stake in the company while continuing to lead management efforts. Additionally, engineering service provider ITG, a part of the EGC group, is included in the transaction. Former GETEC Group CEO Michael Lowak will join EGC as chairman to support its expansion. KKR's investment comes as the EU intensifies its decarbonization policies. Buildings account for 40% of the EU's energy consumption and 36% of energy-related greenhouse gas emissions. The European Commission aims for all new buildings to be zero-emission by 2030 and for fossil fuels in building heating systems to be...
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